Global Peaches and Nectarines Market - 2023-2030

Global Peaches and Nectarines Market - 2023-2030

Global Peaches and Nectarines Market reached US$ 2.8 billion in 2022 and is expected to reach US$ 3.7 billion by 2030, growing with a CAGR of 3.8% during the forecast period 2023-2030.

The global peaches and nectarines market has witnessed significant growth, as the demand for these fruits is increasing as they provide all the essential nutrients, vitamins A, K, C, and B, and dietary fibers. They help improve digestive health and reduce skin diseases. Hence, such factors help in driving the global peaches and nectarines market.

Furthermore, consumers are highly adopting these fruits, which led to an increase in production. For instance, according to a USDA report, the fresh peach and nectarine production will total 162,500 MT, a 1.6 percent increase over MY 2022/23. Peach and nectarine exports will increase by 2.3 percent totaling 106,400 MT based on typical yields and a slight growth area planted. Hence, such a high production rate can help in increasing the market growth.

The processed food and beverages segment accounts for over half of the market share. Similarly, the Asia-Pacific dominates the peaches and nectarines market, capturing the largest market share of over 1/3rd. India produces a high amount of peaches and nectarines globally, which helps in increasing the market growth.

Dynamics

Increase in Usage of Peaches in Processed Foods

Consumers are highly adopting the peaches as they provide all the essential vitamins, minerals, antioxidants, dietary fibers, and others, many manufacturing companies are adopting these fruits and incorporating them into various foods, also processing them into various forms such as canned peaches, frozen peaches, and others. Hence, it can help in increasing the market size.

Furthermore, many manufacturing companies are producing innovative products in order to attract larger consumer bases. For instance, the Stoltzfus Family Dairy company produces peach yogurt, which is vitamin A and C and a good source of fiber, which helps in improving digestion health. Hence, such products can help in increasing the adoption rate.

Increase in Demand for Plant-based Cosmetic Products

An increase in demand for plant-based cosmetic products helps in increasing the demand for peaches and nectarines in cosmetics, as the peaches are a good source of vitamins A and C and antioxidants, they help in enhancing the skin brightening, reduce skin diseases, help repair, revitalize, and calm damaged or irritated lips. Hence, such factors help in increasing the adoption rate.

Furthermore, many manufacturing companies are focusing on producing high-quality products in order to expand their consumer bases. For instance, Pure Sense company produces a Peach pie lip-plumping mask, the peach oil present in it helps provide intense nourishment and makes the lips smooth and supple. Hence, such products help in increasing the market size.

Limited Growing Conditions

Limited growing conditions can significantly challenge and restrain the peaches and nectarines market. As these fruits require specific climate conditions warm temperature, humidity, and soil conditions. Such conditions can limit the growth for some regions which can cause declination in market growth.

Furthermore, according to the USDA report of 2023, U.S. peach and nectarine production for 2023/24 is forecast down to 574,000 metric tons. Also, the output declined by over 30 percent between 2013/14 and 2022/23, with volumes dropping from 800,000 tons to 650,000. Hence, the limited growing conditions can hamper the market growth.

Segment Analysis

The global peaches and nectarines market is segmented based on type, distribution Channel, form, application and region.

Increase in Demand for Innovative Nutritious Products

The processed food and beverage industry holds the maximum share of the global peaches and nectarines market. These fruits provide all the necessary essential vitamins, minerals antioxidants, and dietary fiber. They help increase digestive health. Hence, such factors help in increasing the adoption rate.

Furthermore, many manufacturing companies are focusing on launching innovative high-quality products with peaches and nectarines in order to attract larger consumer bases. For instance, in April 2023, Pinkbeery launched a new White Peach frozen yogurt, which contains a fresh, cool, and bright flavor. It is topped with fresh strawberries, blueberries, and strawberry peach puree. Hence, such products help in increasing the usage of peaches and nectarines.

Geographical Penetration

High Production Rate

Asia-Pacific has been a dominant force in the global peaches and nectarines market and its significance has only grown in the post-2020 era. Consumers in this region are highly adopting these fruits in their regular diets as they provide all the essential nutrients and dietary fibers, help in reducing skin-related diseases, and enhance digestive health. Hence, such factors help to increase the adoption rate in this region.

Furthermore, the production rate is high in this region. For instance, according to the National Horticulture Board report of 2021-22, the production of peaches is high in the Uttarakhand state of India which is around 53,ooo tonnes, and in Punjab state of India, it is 32,000 tones. Hence, such high production rates can help in increasing the market in this region.

Additionally, as the demand and production are high in this region many manufacturing companies such as Dev Bhoomi Frozen Food Products, Lone Star Nursery, and others are focusing on producing innovative products to increase the availability of products in the market, which helps in increasing the market in this region.

Competitive Landscape

The major global players in the market include BeFresh Ltd, Jersey Fruit, Frog Hollow Farm, Fruit Salad Trees, SADIRA, Del Monte, Jolife Biorganic, Walmestone Growers, Petras Group and Australian Organics.

COVID-19 Impact Analysis

The pandemic has brought a disruption in the supply chain, many country governments have imposed lockdowns which have led to the closure of many manufacturing companies which led to a decrease in the availability of products in the market, which decreased the adoption rate. This has shown a negative impact on the global peaches and nectarines market.

By Type
• Peaches
• Clingstone Peaches
• Freestone Peaches
• Semi-Freestone Peaches
• Nectarines
• White Flesh Nectarines
• Yellow Flesh Nectarines

By Distribution Channel
• Hypermarkets/Supermarkets
• Retail Stores
• E-Commerce
• Others

By Form
• Fresh
• Canned
• Frozen
• Dried

By Application
• Processed Food and Beverages
• Nutraceuticals and Supplements
• Cosmetics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In August 2023, a food technology company Grub Market acquired the wholesale distribution business of London Fruit, as the E-commerce firm seeks to expand its Texas scope.
• In January 2023, The Natural Fruit Company acquired Bollo International Fruits for an amount of €300m.

Why Purchase the Report?
• To visualize the global peaches and nectarines market segmentation based on type, distribution channel, form, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of peaches and nectarines market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global peaches and nectarines market report would provide approximately 69 tables, 69 figures and 182 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies